A Novel GDP Prediction Technique based on Transfer Learning using CO2 Emission Dataset
This addresses GDP prediction for nations with limited data, but it is incremental as it applies transfer learning to an existing domain-specific problem.
The paper tackles the problem of predicting GDP using CO2 emissions by proposing a novel transfer learning approach, achieving reliable estimates for war-torn and isolated countries through comparative analysis with methods like Generalized Regression Neural Network.
In the last 150 years, CO2 concentration in the atmosphere has increased from 280 parts per million to 400 parts per million. This has caused an increase in the average global temperatures by nearly 0.7 degree centigrade due to the greenhouse effect. However, the most prosperous states are the highest emitters of greenhouse gases (specially, CO2). This indicates a strong relationship between gaseous emissions and the gross domestic product (GDP) of the states. Such a relationship is highly volatile and nonlinear due to its dependence on the technological advancements and constantly changing domestic and international regulatory policies and relations. To analyse such vastly nonlinear relationships, soft computing techniques has been quite effective as they can predict a compact solution for multi-variable parameters without any explicit insight into the internal system functionalities. This paper reports a novel transfer learning based approach for GDP prediction, which we have termed as Domain Adapted Transfer Learning for GDP Prediction. In the proposed approach per capita GDP of different nations is predicted using their CO2 emissions via a model trained on the data of any developed or developing economy. Results are comparatively presented considering three well-known regression methods such as Generalized Regression Neural Network, Extreme Learning Machine and Support Vector Regression. Then the proposed approach is used to reliably estimate the missing per capita GDP of some of the war-torn and isolated countries.